MADRID | By Luis Arroyo | The Spanish government is simply enforcing the law–a law that the British government has signed. Madrid, unlike London, still has the option of increasing its pressure without pointless nationalistic antics like Royal warships.
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MADRID | By Luis Arroyo | The economic cycle goes up and down. But after a terrible crash as the one we have suffered, following a crazy boom, amid staggering losses of capital and jobs, you would be deluded to believe that the economy will fix itself.
MADRID | By Luis Arroyo | To really tackle the state of our economies, Brussels should admit that most countries cannot repay their debts with the current German anti-crisis plans.
MADRID | By Luis Arroyo | Since Quantitative Easing programmes began, the dollar has been strengthened, that is, its price has gone up against the most used currencies in the international markets.
MADRID | By Luis Arroyo | So-called libertarians sell mostly smoke: their conception of individuals isn’t real, their economic model is ideology.
MADRID | By Luis Arroyo | An economic recovery green shoot will still need some help to survive, but the ECB remains too biased towards inflation contention.
MADRID | By Luis Arroyo | Monetary policies are a by-product of politics, after all, and in Europe, politics are tightly controlled from Berlin, which will probably use the Fed’s reaction as example of what the ECB must do.
MADRID | By Luis Arroyo | The BIS is one of the institutions that has publicly put more pressure on the US Federal Reserve to change the course of its monetary policy–with disparaging results.
MADRID | By Luis Arroyo | Lower salaries do not always bring more employment. This is a myth. The liberalisation of the labour market is altogether another matter, and in some Eurozone countries–as Spain–we are still waiting for it to be implemented.
MADRID | By Luis Arroyo | If we are a monetary union, there can be no buts or ifs. Spain needs capital to implement its reforms and restore its economy.